I am a recently hired (going on 7 months) start up employee. I love my job but feel taken advantage of sometimes. Is the risk worth the reward? Is taking my low level salary combined with almost endless hours of work going to pay off or do I find something new?
Statistically no, unless you consider the experience you gain that allows you to interview somewhere else valuable (it can be)
I started my career with a startup and worked in startups for 8 years. Depending on the startup it can be really draining health and wealth wise. Personally I should not have stayed at a startup(s) for more than 2 years. It's good to start your career at startup because when you are young you will be able to learn and absorb a lot of skills. It's like running with weights, you will be trained for more difficult circumstances.
I love my job but... <- you don't love your job. You like some things from your job, true, that's it. Do you have stock of the company? Or you are just working for less money because.... (crickets).... Is there any reason to be there? I find it healthy to check the market and find out what is out there and your market value.
What's TC? R you in SF?
Working long hours isn’t necessarily bad as long as it’s meaningful work and you’re gaining the right experience. If you’re doing menial tasks, then I’d say it’s worth taking a look outside. However, a startup gives you a lot of freedom that big companies don’t.
Never join a startup for easy hours or good comp. There’s like a 5% chance it’ll pay off at all.
The chance is closer to .001%, consider all of your startup contacts + tech news. To have it be worthwhile you need to join Uber early and hang on for 6-8 years.
Simple TC math assuming startup is granting / optioning stock: [Typical TC for level / yoe] - [Your Startup TC without stocks] = How much you are stock market gambling on the IPO and your perceived value of RSUs. Now if you are busting ass way more at startup than normal for your yoe / level, then you need to put the extra hours on the right side negative against the RSUs. The stock market is gambling. RSUs are gambling. Working many extra hours in faith of a payoff is *really dangerous* gambling. The only reason startups run headcount lean relative to need is because the angel investors are hedging their losses on the impending failure. Don't let them use you unless you get ownership of the product or are completely confident in the gamble (and you still might lose). The house always wins.
Seconding this. The appeal of startups going IPO and having employees become millionaires was made popular by FB’s success, but it clouds the reality that almost all startups don’t have successful exits. The successful ones you hear about in the news are the minority
When's the last time we had a truly successful IPO/Exit for employees?
Who would've thought someone from jcp could rain wisdom like this. Well stated
Tech Industry
12h
1445
What is the appeal to NVIDIA?
Tech Industry
14h
3909
Goog Employees Arrested
Personal Finance
12h
463
Zero Financial Literacy: 40% of Americans have no clue what a 401k is
Tech Industry
16h
1272
TC progression. Estimated to hit $1M+ this year. AMA
Cars
Yesterday
1474
Seattle people, what cars do you have? 🙂
Depends what your YoE and TC is, plus whatever options and current trajectory of the company is like.